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Megasoft Limited, which provides technology platforms to telecom industry, has posted a loss of Rs 3.18 crore in the third quarter ended September 30, 2012, as a against a profit of Rs 3 crore in the corresponding quarter last year.
The revenues of the company fell to Rs 27 crore (Rs 34 crore) in the quarter. The earning per share (EPS) turned negative (a minus 73 paise) as against 0.69 paise in the comparable quarter.
The net profit for the nine-month period fell to Rs 88 lakhs from Rs 14.76 crore in the comparable period last year. The revenues too fell to Rs 86 crore (Rs 114.63 crore). For the financial year ended December 31, 2011, it posted revenues of Rs 150 crore and a net profit of Rs 17.50 crore.
“The nine-month period in 2012 has been tough. While we managed to stay operationally cash positive and build a good pipeline for its products and solutions, capital expenditure is witnessing a slow down, resulting in slower uptake for company’s new products and applications,” G V Kumar, Managing Director and Chief Executive Officer of Megasoft, said.
“We are planning to focus on small carrier infrastructure and retail mobile commerce segments, while maintaining a close watch on cash flows and costs,” he said.
>kurmanath.kanchi@thehindu.co.in
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